HomeMy WebLinkAboutMin - Economic Development Corporation - 2024 - 04/17 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,APRIL 17,2024
Board Staff Guests
Kristina Holcomb Daniel Bowman Pete Phillis
Brent Berg Claire Benson Ben Trahan
Ben Patterson Nicole Bywater Peggy Clemons
Emad Siddiqi David Ellis Idowe Ajose
Baine Brooks—absent Eileen Gonzales
Jan Jungmann
Pete Smith
Call to Order and Announce a Quorum Present
With members Kristina Holcomb, Brent Berg, Ben Patterson, and Emad Siddiqi in attendance,the
Regular Meeting of the Allen Economic Development Corporation(AEDC) Board of Directors was
called to order by President Holcomb at 6:00 p.m. on Wednesday, April 17, 2024 at the Allen
Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on March 20, 2024
On a motion by Emad Siddiqi, seconded by Brent Berg,the Board unanimously approved the minutes
of the March 20,2024 Regular AEDC Board Meeting.
2. Approval of AEDC Quarterly Financial Reports
City of Allen CFO Pete Phillis presented the AEDC Quarterly Financial Reports and answered
questions regarding the reports.
On a motion by Brent Berg,seconded by Emad Siddiqi,the Board unanimously approved the
Quarterly Financial Reports as presented.
3. Review Preliminary AEDC Budget for FY 2024-2025 and Mid-Year Revisions to the AEDC
Budget for FY 2023-2024
AEDC Executive Director Daniel Bowman presented the preliminary AEDC Budget and received
Board input.
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AEDC Meeting Minutes
April 17, 2024-Page 2
4. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087;
Deliberation of Economic Development Negotiations; To Deliberate Commercial and Financial
Information and Economic Incentives for the Following and Pursuant to Texas Government Code,
Section 551.072 Deliberation Regarding Real Property:
a. Discussion of Right of First Refusal and Option Agreement for the Purchase of Real Property
Owned by Stillwater Capital on SH 121
b. Update on Project at the Southeast Corner of Stacy Road and SH 121
The Board convened into closed session at 6:32 p.m.
Reconvene into Open Session
The Board reconvened into open session at 7:09 p.m.
5. Actions Resulting from Executive Session
None. -
6. Discuss the Ideal Oualities, Experience and Knowledge of an AEDC Board Member
AEDC Board President Kristina Holcomb will collect feedback from the other Board members.
7. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, May 22,2024 at 6:00 p.m.
8. Discussion of Future Agenda Items
None.
9. Adjournment
On a motion by Ben Patterson, seconded by Brent Berg,the meeting was adjourned at 7:19 p.m.
These Minutes approved this 22nd day of May 2024.
L �e'.�,. corn. g-sident Ben Patterson, Secretary/Treasurer